AlphaCentric Advisors LLC Cuts Stock Position in AMREP Corporation $AXR

AlphaCentric Advisors LLC lessened its holdings in shares of AMREP Corporation (NYSE:AXR) by 31.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,496 shares of the business services provider’s stock after selling 20,504 shares during the quarter. AMREP comprises 1.2% of AlphaCentric Advisors LLC’s portfolio, making the stock its 14th biggest holding. AlphaCentric Advisors LLC owned 0.84% of AMREP worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Empowered Funds LLC raised its position in shares of AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after buying an additional 3,344 shares in the last quarter. Jane Street Group LLC grew its stake in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after purchasing an additional 3,077 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of AMREP during the 1st quarter worth $46,000. Geode Capital Management LLC increased its position in AMREP by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after purchasing an additional 574 shares during the period. Finally, Citadel Advisors LLC purchased a new position in AMREP during the third quarter valued at approximately $453,000. 59.85% of the stock is currently owned by institutional investors.

AMREP Trading Up 0.6%

AXR opened at $25.75 on Monday. The firm’s 50-day moving average price is $25.61 and its 200 day moving average price is $24.96. The firm has a market capitalization of $136.71 million, a PE ratio of 10.73 and a beta of 1.12. AMREP Corporation has a twelve month low of $17.61 and a twelve month high of $29.01.

Insider Buying and Selling

In other news, Director Timothy S. Mcnaney purchased 1,765 shares of AMREP stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average price of $28.17 per share, with a total value of $49,720.05. Following the transaction, the director owned 1,765 shares in the company, valued at $49,720.05. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James H. Dahl bought 3,075 shares of AMREP stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $25.58 per share, for a total transaction of $78,658.50. Following the transaction, the insider directly owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This trade represents a 0.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 22,996 shares of company stock valued at $606,345 in the last 90 days. Insiders own 37.20% of the company’s stock.

Analyst Upgrades and Downgrades

AXR has been the subject of a number of research analyst reports. Wall Street Zen upgraded AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital downgraded AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, AMREP has a consensus rating of “Hold”.

AMREP Company Profile

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.